After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Bank of England insider appointed new chief executive of the Prudential Regulation Authority (PRA) April 8, 2016 Sam Woods has been appointed the new chief executive of the Prudential Regulation Authority (PRA), the Bank of England announced this afternoon. Woods, who is currently executive director for the Bank's insurance division, will take over from the outgoing Andrew Bailey on 1 July 2016, and will have ultimate responsibility for supervising banks, building societies, insurers and investment [...]
EU referendum: London will be stronger if the UK remains as a semi-detached member of the club April 7, 2016 Any freedom gained by Brexit will come at the expense of opportunity and London will bear the brunt if Britain votes to leave. London will be stronger if the UK remains as a semi-detached but full member of the club, as negotiated by Prime Minister David Cameron in his reform deal. London has flourished by being [...]
City A.M’s London Marathon runner George Reed needs to put his feet up after an injury, but he says he’ll still beat Bank of England boss Mark Carney’s time last year April 6, 2016 George Reed, the self-styled City schmoozer running the London Marathon for City A.M., needs to rest up after suffering a sprain that could affect his performance on the big day. Reed, director at oil and gas recruiter Thorold Dewling, won the chance to run this year's race on behalf of City A.M's drive to raise £1m for cancer charity Maggie's. [...]
The madness of chancellor George? The UK’s current account deficit is leading us into a debt trap April 6, 2016 In economics there are few unrelated events, so Britain’s whopping current account deficit (seven per cent of GDP) for the final months of 2015 is the latest wake-up call for bigger future problems. Deficits of this size warn of trade uncompetitiveness, but more worryingly the latest jump underscores the sharper on-going deterioration in overall UK private [...]
EU Referendum: Government stockpiling foreign currency reserves to fight sterling volatility April 5, 2016 Britain’s foreign currency reserves reached a new record high last month, passing $100bn (£70.5bn) for the first time, as the UK looks to be building a buffer to defend the pound against the prospect of a currency crisis ahead of the EU referendum. Another $4.5bn in reserves was acquired in March, taking the total amount [...]
The financial regulator is set to focus on technology and culture in the coming year, though only one new review will be brought in April 5, 2016 The use of technology and culture within banks are set to be the big focus for the UK's financial watchdog over the next 12 months, the Financial Conduct Authority (FCA) revealed today in its yearly business plan. The only new review that the FCA will kick off over the coming 12 months will look into pension [...]
Ex-Shell boss says time “ripe” for oil majors to eye alternative energy April 5, 2016 The former boss of Royal Dutch Shell believes that the time is ripe for oil majors to invest in alternative energies. Speaking in an exclusive interview with the World Energy Council's monthly magazine, Jeroen van der Veer, who headed Shell between 2004 and 2009, said: "I think we were too early once or twice [in the [...]
Bankers prepare for job losses as optimism falls to lows not seen since the Eurozone sovereign debt crisis April 4, 2016 British bankers are bracing themselves for the largest round of job cuts since the height of the Eurozone sovereign debt crisis as banks struggle to find their way back to profitability and optimism over future earnings shrinks. Bankers fear the axe is set to fall mostly on bloated back office operations, IT departments and in [...]
Challenger bank Tandem pranked people in a north London pub by swapping the bar staff for bankers April 4, 2016 Challenger banks love to poke fun at the status quo. None more so than Tandem, the UK's newest digital bank, which is set to open later this year. The new lender on the block, spearheaded by Capital One co-founder Ricky Knox, made its presence known last week by pulling a prank in a north London pub to poke [...]
Should the UK worry about its record current account deficit? March 31, 2016 The UK's current account deficit has reached its highest level since comparable records began in 1955. It rose to £32.7bn in the final three months of 2015, equal to seven per cent of GDP. A big current account deficit can often be a precursor to an economic crisis, so should the UK worry about it? A sign [...]